Zacks: Analysts Expect J M Smucker Co (NYSE:SJM) Will Post Quarterly Sales of $2.00 Billion

Wall Street analysts expect J M Smucker Co (NYSE:SJM) to report sales of $2.00 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for J M Smucker’s earnings, with the highest sales estimate coming in at $2.03 billion and the lowest estimate coming in at $1.96 billion. J M Smucker posted sales of $2.02 billion in the same quarter last year, which would indicate a negative year over year growth rate of 1%. The firm is expected to announce its next quarterly earnings report before the market opens on Friday, November 22nd.

According to Zacks, analysts expect that J M Smucker will report full-year sales of $7.80 billion for the current fiscal year, with estimates ranging from $7.72 billion to $7.90 billion. For the next year, analysts expect that the business will post sales of $7.93 billion, with estimates ranging from $7.88 billion to $8.04 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow J M Smucker.

J M Smucker (NYSE:SJM) last issued its earnings results on Tuesday, August 27th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.17). J M Smucker had a return on equity of 11.49% and a net margin of 6.95%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year.

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of J M Smucker from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th. TheStreet cut shares of J M Smucker from a “b-” rating to a “c+” rating in a research report on Tuesday, August 6th. Bank of America cut their price objective on shares of J M Smucker from $128.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. ValuEngine raised shares of J M Smucker from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, Citigroup cut their price objective on shares of J M Smucker from $142.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $114.80.

In related news, SVP Kevin G. Jackson sold 487 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $108.70, for a total value of $52,936.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark R. Belgya sold 750 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $113.55, for a total transaction of $85,162.50. Following the completion of the sale, the insider now owns 54,192 shares of the company’s stock, valued at approximately $6,153,501.60. The disclosure for this sale can be found here. Insiders sold 1,987 shares of company stock valued at $220,599 in the last quarter. Company insiders own 3.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 1 North Wealth Services LLC purchased a new position in J M Smucker during the 3rd quarter valued at about $28,000. Guinness Asset Management Ltd grew its holdings in J M Smucker by 52.7% in the second quarter. Guinness Asset Management Ltd now owns 258 shares of the company’s stock valued at $30,000 after purchasing an additional 89 shares during the period. Whitener Capital Management Inc. grew its holdings in J M Smucker by 52.4% in the second quarter. Whitener Capital Management Inc. now owns 291 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Stonebridge Capital Advisors LLC purchased a new stake in J M Smucker in the second quarter valued at approximately $37,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in J M Smucker in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.56% of the company’s stock.

Shares of J M Smucker stock opened at $105.78 on Thursday. The firm has a 50-day moving average of $107.32 and a 200-day moving average of $114.52. The stock has a market cap of $12.12 billion, a PE ratio of 12.76, a PEG ratio of 3.42 and a beta of 0.41. J M Smucker has a 52-week low of $91.32 and a 52-week high of $128.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.26 and a current ratio of 0.70.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Thursday, November 14th. J M Smucker’s dividend payout ratio (DPR) is 42.46%.

About J M Smucker

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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